Markets
CHICAGO, June 12 (Reuters) – U.S. cattle and hog futures fell 1 percent or more on Monday, pressured by chart-based and investment fund selling, traders and analysts said. Lower-than-expected prices in cash cattle markets late last week further weighed on futures, even as rising U.S. wholesale beef prices suggested meat demand remained strong. Chicago Mercantile […] Read more
Markets
Cattle, hog futures ease on fund selling
China cuts corn output forecast on bad weather
BEIJING, June 9 (Reuters) – China on Friday slashed its 2017 -18 corn output forecast to the lowest level in four years after drought and hail hit planting in the northeastern region of one of the world’s top producers, spurring a rally in futures prices. In its monthly crop report, the agriculture ministry said it […] Read more
CME live cattle futures end weaker, hogs firmer
CHICAGO, June 9 (Reuters) – Chicago Mercantile Exchange live cattle contracts were weakened Friday by profit-taking and investor caution as they await the bulk of this week’s cash cattle sales, said traders. Futures discounts to initial cash prices limited market losses, they said. June closed down 0.125 cent per pound to 131.250 cents, and August […] Read more
Market retains focus on weather as USDA raises wheat production forecast
Friday’s U.S. Department of Agriculture report pegged U.S. wheat production a little higher than expected, but the trade continued to put more focus on the hot, dry weather affecting a large part of the North American grain belt. Canola futures drifted a little lower as needed rain began creeping into the Prairie forecast. USDA REPORT […] Read more
USDA raises wheat production outlook despite weather challenges
WASHINGTON, June 9 (Reuters) – U.S. wheat supplies will be bigger than expected despite a snowstorm in early May that analysts worried had severely damaged the crop in Kansas, the top producing state, the U.S. Agriculture Department said on Friday. More recently, farmers in spring wheat areas have been struggling with dry weather and given […] Read more
Is a wheat rally on the horizon?
Dry conditions across the U.S. northern plains and spring seeding setbacks in Western Canada could boost prices
A developing drought in the United States northern plains, early signs of a low protein U.S. winter wheat crop and planting problems in Western Canada could spark a spring wheat price rally, say analysts. Jim Peterson, marketing director for the North Dakota Wheat Commission, says it has been hot and dry in Montana, western North […] Read more
Hempseed acre increase may lead to excess supply
Hempseed may top 140,000 acres in Western Canada this year, a significant increase from recent levels of 70,000 to 100,000 acres. If acreage does jump and yields are decent, Canada could produce an excess of hempseed in 2017, says an industry leader from Saskatchewan. “We are probably going to end up with way more than […] Read more
CME live cattle close mixed, hog futures higher
CHICAGO, June 8 (Reuters) – Chicago Mercantile Exchange live cattle futures settled mixed on Thursday after an up-and-down session, supported by futures’ discounts to preliminary cash prices but pressured by profit-taking, traders said. June closed up 0.175 cent per pound at 131.375 cents, and August down 0.150 cent at 124.025 cents. On Thursday, a small […] Read more
Heavy net short market, weather issues a recipe for price volatility
The dominant story in grain markets has been the perception of excessive global crop supply. Recent concerns that China’s demand for commodities is sagging and that Chinese soy crush margins are poor added to the negative sentiment. The pressure has been all downward and the big commodity speculation funds are all on the sell/short side […] Read more
Russian wheat prices rise
markets briefs black sea MOSCOW, June 5 (Reuters) – Russian wheat export prices have edged higher for a third consecutive week due to persistent concerns over wheat crops in Russia and Ukraine to be harvested this summer, analysts said on Monday. Cold weather in central Russia is delaying crop development. Last week, Russia’s agriculture ministry […] Read more
